https://www.taxtmi.com/caselaws?id=38507 In reassessment proceedings, an undetermined loss for the relevant year must be computed when determining escaped income, even if the original return ended in a nil assessment. The court distinguished this from carry forward: any unabsorbed loss can be carried forward only if it is separately determined in accordance with the Act. The reassessment could not ignore the earlier loss as irrelevant to the escaped income computation, but the taxpayer was not entitled to carry forward that loss to subsequent years on the facts stated. en-us Wed, 17 Nov 1976 00:00:00 +0530 Tue, 06 Apr 2010 17:51:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38507 In reassessment proceedings, an undetermined loss for the relevant year must be computed when determining escaped income, even if the original return ended in a nil assessment. The court distinguished this from carry forward: any unabsorbed loss can be carried forward only if it is separately determined in accordance with the Act. The reassessment could not ignore the earlier loss as irrelevant to the escaped income computation, but the taxpayer was not entitled to carry forward that loss to subsequent years on the facts stated. Case-Laws Income Tax Wed, 17 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38507